Six major South Korean business groups on Tuesday urged the National Assembly to swiftly pass a special law aimed at supporting investment in the United States.
In an emergency appeal issued Tuesday, the Korea Enterprises Federation, the Korea Employers Federation, the Korea Chamber of Commerce and Industry, the Korea International Trade Association, the Korea Federation of SMEs and the Korea Association of Medium-Sized Enterprises said uncertainty in the trade environment has intensified after a recent U.S. Supreme Court ruling that found the International Emergency Economic Powers Act, or IEEPA, unlawful.
They said the ruling could prompt the United States to rely on alternative laws to keep its current tariff policy direction while imposing additional, selective tariffs on specific countries or products, making passage of the bill urgent.
The groups said exports to the United States in key South Korean industries — including semiconductors, automobiles and pharmaceuticals — are being directly affected, raising concerns about weakening industrial competitiveness.
They warned that delays in handling the bill would weaken South Korea’s negotiating leverage with the United States and make it harder to realize tangible benefits from bilateral economic cooperation.
They again called on lawmakers to pass the bill within the special committee’s mandate so companies can reduce trade risks and pursue exports to the United States more actively.
* This article has been translated by AI.
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